Mitsubishi UFJ Asset Management UK Ltd. Cuts Position in Prologis, Inc. (NYSE:PLD)

Mitsubishi UFJ Asset Management UK Ltd. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 37.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the real estate investment trust’s stock after selling 6,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Prologis were worth $1,263,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLD. Arbor Capital Management Inc. ADV grew its stake in Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after acquiring an additional 87 shares in the last quarter. CX Institutional grew its position in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA increased its holdings in shares of Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 90 shares during the last quarter. Destination Wealth Management lifted its position in Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 92 shares in the last quarter. Finally, Tiemann Investment Advisors LLC boosted its stake in Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PLD shares. Truist Financial lifted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Argus upped their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI raised their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank upped their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Finally, Barclays cut their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $132.71.

Prologis Stock Down 0.2 %

Shares of NYSE PLD traded down $0.20 during mid-day trading on Friday, hitting $122.50. The company had a trading volume of 3,690,933 shares, compared to its average volume of 3,642,941. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market capitalization of $113.42 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50-day simple moving average is $125.43 and its 200 day simple moving average is $117.72.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. Prologis’s payout ratio is currently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.